Economic review

China amends regulations to streamline government approvals

2017-11-30 06:09:00 (Beijing Time)         Xinhua


China has revised regulations on administrative procedures to make it easier for businesses to gain government approval.

Three clauses in two administrative regulations have been amended relating to Chinese-foreign cooperative enterprises, and family birth attendants, according to a State Council decree signed by Premier Li Keqiang.

The new rules went into effect on Wednesday.

Over the past five years, China has created a better business environment for both domestic and overseas companies.

Through simpler approval processes, lower corporate fees and online services, the government is transforming its functions to let the market play a larger role in the economy.